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Following the very strong previous years, the\u00a0Homag Group\u2019s order intake declined in the first half of 2023. The company was, however, able to increase its sales.<\/span><\/p>\n Order intake decreased to Euro 671 million in the first six months of 2023 (previous year: Euro 1,031 million). \u201cThis slowdown in order intake does not come as a surprise,\u201d emphasized CEO Dr. Daniel Schmitt. \u201cAfter two years of exceptionally high investments, our customers are now more cautious due to high inflation and interest rates. We see this in all global regions.\u201d The order backlog decreased to Euro 930 million as of June 30, 2023.<\/p>\n As a result of the high order backlog at the beginning of the year, Homag Group sales rose to Euro 817 million in the first half of the year, exceeding the already very high figure of the previous year (Euro 782 million). At Euro 56.8 million, EBIT before special items was close to the previous year\u2019s level (Euro 58.6 million). It was impacted by lower earnings contributions from service, as many customers are not operating at full capacity as a result of subdued consumer demand, therefore requiring fewer spare parts and other services. In addition, one-off costs and higher research and development costs were incurred for the LIGNA trade show in May.<\/p>\n \u201cWe have adjusted to the more difficult market environment and declining order intake by implementing efficiency and cost-saving measures in order to strengthen our profitability,\u201d Dr. Schmitt emphasized.<\/p>","protected":false},"excerpt":{"rendered":" Following the very strong previous years, the\u00a0Homag Group\u2019s order intake declined in the first half of 2023. The company was, however, able to increase its sales. Order intake decreased to Euro 671 million in the first six months of 2023 … Continue reading